"Because the purpose of business is tocreate a customer, the business enterprisehas two--and only two--basic functions:marketing and innovation.Marketing and innovation produceresults; all the rest are costs. Marketing isthe distinguishing, unique function of thebusiness." Peter Drucker
Marketing is the distinguishing,unique function of the business? Hogwash!
Marketing is a PROCESS for:Creating, communicating, delivering,and exchanging offerings that haveVALUE for customers, clients,partners, and society at large* * Adapted from the American Marketing Association
Let’s check how todevelop theMarketing Process
1. Choose in which businesses you will compete.2. Define how are you going to compete in these businesses: Value proposition.3. Build your company around that value proposition.
2. Marketing strategies Brand mission Brand Objectives You have to KPI’s be in a mission, not just state one. Financial Objectives Customer segments KPI’s
2. Marketing strategies Positioning Marketing mix Remember the Value Generation Process: Tactical Marketing 2. Provide the value 3. Communicate the value Tactics Market research What to do, when, how and by whom to achieve the objectives
4. Implementation and controlling Don’t forget monitoring and making adjustments Making adjustments Goals Tactics Market research What to do, when, how and by whom to achieve the objectives KPI’s Monitoring and controlling results
4. Implementation and controllingMake adjustments after testing your value proposition with your CUSTOMERS And remember that the EXECUTION is the mostimportant phase. If you are not willing to execute your plan, you better don’t make it.
Recap:1. Select your business(es).2. Define your Value proposition.3. Develop your Value Generation Process.4. Make a Marketing Plan.5. Execute and control.
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